| Greece joins the flat rate tax bandwagon |
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financechoices
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| Greece joins the flat rate tax bandwagon |
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Greece is set to become the next European nation to introduce a flat rate of income tax, according to speculation in Athens triggered by the finance minister, Giorgios Alogoskoufis.
The prime minister, Costas Karamanlis could announce the proposal at next month's Thessaloniki International Fair. A flat rate of income tax, which abolishes all bands and exemptions and replaces them with a single rate and a high personal allowance, is all the rage among free-market thinkers and the idea is sweeping across eastern Europe.
Full story
What do you think of flat taxes?
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Mon Aug 15, 2005 8:41 am |
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dwt12777
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Count me in with the flat tax crowd. Nothing more fair than the same percentage applied to all... not to mention the reduced overhead for that farce we call the IRS!
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Tue Aug 16, 2005 1:41 am |
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financechoices
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quote:
Originally posted by dwt12777
Count me in with the flat tax crowd. Nothing more fair than the same percentage applied to all... not to mention the reduced overhead for that farce we call the IRS!
I agree 100%. What can we do to pursuade the politicians to give it a go? I have a thumb screw if that helps 
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Tue Aug 16, 2005 8:42 pm |
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joseanes
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All in favor of flat tax.
It is still proportional to your income... but linearly proportional.
It still motivates people to earn more.
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Wed Aug 31, 2005 4:48 pm |
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tss4
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As long as capitol gains is taxed at the same rate. income is income and everyone should pay it.
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Thu Sep 01, 2005 12:31 pm |
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financechoices
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Do you think that US/UK will ever have it? I know that Germany are looking into it. Perhaps if a major economy like that adopts flat taxes it will encourage other large economies to follow suit, to maintain competitiveness if nothing else.
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Thu Sep 01, 2005 1:02 pm |
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tss4
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quote:
Originally posted by financechoices
Do you think that US/UK will ever have it? I know that Germany are looking into it. Perhaps if a major economy like that adopts flat taxes it will encourage other large economies to follow suit, to maintain competitiveness if nothing else.
Unlikely, tax breaks are an incredibly useful tool of the federal government for controlling economic behavior. The only way we might go to a flat tax, is if the flat tax became a huge success in other strong economies.
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Thu Sep 01, 2005 1:39 pm |
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